By Kosaku Narioka
Sony Group Corp. is scheduled to report its first-quarter results on Wednesday. Here is what you need to know:
NET PROFIT FORECAST: Sony Group’s net profit is expected to fall 36% to 149.84 billion yen ($1.37 billion) for the quarter ended June, according to a poll of analysts by FactSet. That would compare with the Y233.25 billion the company reported in the year-earlier period, which was helped by a pandemic-driven gaming boom.
REVENUE FORECAST: Sony’s first-quarter revenue is estimated to have risen 9.2% from a year earlier to Y2.149 trillion, according to the FactSet poll.
WHAT TO WATCH:
–GAME BUSINESS: Operating profit for its game business, which had benefited from stay-home trends, fell 28% to Y33.04 billion in its fourth quarter. Investors are looking for whether videogame demand continues to ease.
–OUTLOOK: Sony in April projected Y9.700 trillion in revenue and Y660.00 billion in net profit for the year ending March 2022. Investors are paying attention to any changes to the company’s earnings guidance and the outlook for several other business lines.
Write to Kosaku Narioka at firstname.lastname@example.org
View more information: https://www.marketwatch.com/story/sony-group-s-first-quarter-net-profit-expected-to-drop-36-earnings-preview-271627987040